SEC Issues Investor Alert on Fraudulent Celebrity-Endorsed Pump and Dump Memecoins

The U.S. Securities and Exchange Commission (SEC) has issued an investor alert regarding fraudulent 'pump and dump' memecoins, particularly those created by celebrities. This warning comes amid a surge in the launch of celebrity-endorsed memecoins, such as the anticipated 'TrumpPump' and those involving Caitlyn Jenner, which have become a prominent feature of the current cryptocurrency cycle. The SEC's alert highlights the risks associated with these schemes, emphasizing the potential for significant financial losses for investors. The alert specifically targets pump-and-dump schemes and presales, cautioning investors to be vigilant.